Australia's ASX to List DigitalX Bitcoin ETF on July 12

IconCryptoNewsTerminal Staff08 Jul, 2024

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Australia's ASX to List DigitalX Bitcoin ETF on July 12

DigitalX, a blockchain consulting and asset management firm based in Australia, will launch its DigitalX Bitcoin ETF (ticker: BTX) on the Australian Securities Exchange (ASX) on July 12, 2023 (local time), according to a Bloomberg report. The ETF was developed in partnership with K2 Asset Management and 3iQ. The ASX announced on June 20 that it was in discussions with BetaShares and VanEck, among other applicants, regarding the listing of BTC spot ETFs. The DigitalX Bitcoin ETF will provide investors with exposure to the price of Bitcoin without the need to directly purchase and store the cryptocurrency. The ETF will be physically backed by Bitcoin held in custody by Coinbase. The listing of the DigitalX Bitcoin ETF is a significant development for the Australian cryptocurrency market. It will be the first Bitcoin spot ETF to be listed on a major stock exchange in the country. The ETF is expected to attract significant interest from both institutional and retail investors. ```

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